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TV <br />Community <br />Television <br />P 763.427.1411 <br />www.petv.org <br />12254 Ensign Ave. N <br />Champlin, MN 55318 <br />• Approval is not a representation that the Grantee is in continuing compliance with <br />the franchise or applicable law. <br />• GreatLand shall provide written notice of closing of the transactions within 10 days <br />after closing, and thereafter GreatLand and the subsidiary franchise -holder will be <br />bound by the franchise and applicable law. <br />• GreatLand shall provide certificates of insurance evidencing coverage as required by <br />the settlement agreement, and provide evidence of assignment or replacement of the <br />$100,000 performance bond and $25,000 irrevocable and unconditional letter of <br />credit required by the franchise within thirty (30) days after closing. <br />• GreatLand shall provide a guarantee in a specified form ensuring that sufficient <br />financial resources are made available to the franchise -holder to comply with the <br />franchise and applicable law. GreatLand represents and assures adequate financial <br />resources will be available. <br />• GreatLand is required to comply with conditions or requirements imposed by federal <br />agencies regarding the transactions, provided that enforcement must be at the federal <br />level. <br />• GreatLand shall provide a written guarantee in a specified form that subscriber rates <br />and charges will not increase as a result of the costs of the transaction. <br />• The member cities waive no rights to require franchise fee or PEG fee payments on <br />present and future services delivered by GreatLand or its subsidiaries and affiliates <br />via the cable system. <br />If any conditions or requirements are not satisfied, the approval and consent to the transfer <br />are denied and void. If any written representations made regarding the transfer are <br />materially incomplete, untrue or inaccurate in any material respect, it shall be deemed a <br />material breach of the franchise and applicable law, and subject to franchise remedies and <br />law. <br />Settlement Agreement. The following summarizes the deal points contained in the <br />settlement which has been approved by the QCCCC: <br />• The Franchise is extended through August 31, 2020, and are automatically further <br />extended through December 31, 2024 unless the Grantee timely requests, in writing, <br />renewal proceedings. <br />